Quang Minh Mediphar Company: Quality Makes Brand Name

Quang Minh Mediphar Company is a leading pharmaceutical producer and exporter in Vietnam. Vietnam Business Forum had an interview with Mr Nguyen Thanh Nha, Chairman of the Board of Directors cum General Director of Quang Minh Mediphar Company, on the company’s achievements and his remarks on the current drug market.

Quang Minh Mediphar Company understands that product quality makes the name of Quang Minh. Thus, the company, which was formerly Duc Thinh Medical Packaging Company was founded in 1982 to package medical and pharmaceutical products. In 1996, Duc Thinh Medical Packaging Company also began drug trading. From a small factory with two ointment and eye-drop production lines in 1999, Quang Minh has now operating a modern pharmaceutical factory meeting GMP WHO standard to manufacturing ointment, syrup, eye-drop, tablet, powder and a wide range of other products with better quality. It was the first private drug factory in Vietnam to obtain the GMP ASEAN standard in May 2000 and the GMP WHO standard in 2007. These are possibly the most remarkable milestones of Quang Minh. Through its history, Quang Minh always attaches much importance to product quality to meet market requirements. Thus, Quang Minh is standing firm amid the ongoing economic crisis.

 

In my opinion, the drug market is now very abundant with both imported drugs and locally made medicines. Many factories have not operated at their designed capacities. This means the market does not lack medicines but the method to distribute effectively. The distribution is now undertaken by small firms and lack coordination with other companies. They mainly focus on their profits, not the general benefit of the community. Drugs are distributed through so many companies before reaching consumers and more costs are added to drugs. Moreover, drug companies adopt unhealthy competition, leaving negative impacts on the market. Foreign companies are cornering the market to multiple drug prices from real values, making Vietnam the market with highest drug prices in the world.

 

Before pharmaceutical market changes, State organs usually respond later than the public opinion and their activities are mainly aimed to ease public opinion. Thus, their activities are normally ineffective.

 

Additionally, competent medical authorities only do so because they cannot intervene into business operations of legally operated drug firms in the economy market. I think the Government of Vietnam should set up a price investigating body of international scale to find out reasons leading to overly high prices of medicines in Vietnam. Then, they can introduce effective solutions to manage and control the drug market.

Quang Minh Company has close ties with 64 State-owned or joint stock companies, 90 private companies and more than 2,000 drugstores nationwide. Based on our market share and products, we have different distribution channels. For traditional, reputable products with strong market foothold, Quang Minh assigns its domestic agents and marketing force to deliver retail drugstores. For new products, Quang Minh popularises with many means like TV advertisements, websites, newspapers, agent networks and promo people who will visit retail drugstores to introduce. We also adopt flexible distribution methods when we occupy market shares. Customers can order through telephone, email or facsimile, and we will deliver to expected locations.

 

For exported products, Quang Minh cooperated with domestic and foreign intermediaries to make inroads into the world market. At present, Quang Minh is joining hands with WAPHARMA USA. Accordingly, Quang Minh will manufacture drugs in accordance to WAPHARMA technologies and WAPHARMA will distribute the drugs in third nations.

Quang Minh’s success comes from various factors but the key factor is the vision of the company’s leaders, the ability to grasp the market and sensitivity before market developments to make specific adjustments. At the same time, its strong wholehearted workforce is striving for the prosperity of the company, to develop the trademark and consolidate the public confidence in Quang Minh’s products. Last but not least, an inevitable factory is a stable finance for upgrading and investing in factories and equipment.